U.S. Navy Awards General Dynamics $7 Million Contract for USS Seawolf Maintenance Planning
GROTON, Conn. – The U.S. Navy has awarded General Dynamics Electric Boat a $7.1 million contract for planning in support of the USS Seawolf (SSN-21) selected restricted availability (SRA). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD).
Under the terms of the contract, Electric Boat will perform advance planning, design, and documentation in preparation for the SRA, which is scheduled to be performed at the Groton shipyard from February to September 2004. An SRA consists of repairs, alterations, maintenance and routine work onboard the submarine. If all options are exercised and funded, the total value of the work will be $53.9 million. At peak times, up to 200 Electric Boat employees could be engaged in the work.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 56,000 people worldwide and had 2002 revenues of $13.8 billion. The company has leading market positions in land and amphibious combat systems, mission-critical information systems and technologies, shipbuilding and marine systems, and business aviation.
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Any "forward-looking statements" contained in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
General Dynamics Corporation (ticker: GD, exchange: NYSE)
News Release - Tuesday, April 15, 2003
Press Contact: (860) 433-8556
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